Middle East 5

Union Properties First-Quarter Net Jumps 70%

Union Properties, a Dubai-based real-estate developer that's building F1-themed parks, said first-quarter profit rose 70 percent on real-estate sales.

Net income rose to 238 million dirhams ($64.8 million), or 0.086 dirham a share, from 140 million dirhams, or 0.051 dirham, in the year-earlier period, the company said in an e- mailed statement late yesterday. (Bloomberg)

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